Millennium Management LLC Increases Holdings in Exponent, Inc. $EXPO

Key Points

• Millennium Management LLC boosted its holdings in Exponent, Inc. by 543.1% in Q1, owning approximately 0.60% of the company valued at $24.7 million.
• Exponent's recent earnings report indicated an EPS of $0.52, surpassing estimates, and a 7.3% year-over-year revenue increase to $132.87 million.
• CEO Catherine Corrigan sold 4,896 shares of Exponent stock, decreasing her holdings by 5.68%, while the company also declared a quarterly dividend of $0.30 per share.

Millennium Management LLC grew its holdings in shares of Exponent, Inc. (NASDAQ:EXPO - Free Report) by 543.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 305,230 shares of the business services provider's stock after purchasing an additional 257,766 shares during the period. Millennium Management LLC owned approximately 0.60% of Exponent worth $24,742,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its holdings in shares of Exponent by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 5,946 shares of the business services provider's stock valued at $481,000 after purchasing an additional 155 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Exponent by 2.5% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 6,709 shares of the business services provider's stock valued at $544,000 after purchasing an additional 164 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in shares of Exponent by 6.0% during the first quarter. Portside Wealth Group LLC now owns 2,993 shares of the business services provider's stock valued at $243,000 after purchasing an additional 170 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Exponent by 1.7% during the first quarter. State of Michigan Retirement System now owns 12,200 shares of the business services provider's stock valued at $989,000 after purchasing an additional 200 shares during the last quarter. Finally, Hardy Reed LLC lifted its holdings in shares of Exponent by 5.5% during the first quarter. Hardy Reed LLC now owns 3,850 shares of the business services provider's stock valued at $312,000 after purchasing an additional 202 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Joseph Sala sold 1,595 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $70.64, for a total value of $112,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Catherine Corrigan sold 4,896 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $71.09, for a total transaction of $348,056.64. Following the completion of the transaction, the chief executive officer owned 81,342 shares of the company's stock, valued at approximately $5,782,602.78. The trade was a 5.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Exponent Stock Down 0.8%

Shares of EXPO stock traded down $0.58 during trading hours on Monday, hitting $69.47. 714,164 shares of the company's stock traded hands, compared to its average volume of 333,612. The stock's fifty day simple moving average is $71.62 and its two-hundred day simple moving average is $76.15. Exponent, Inc. has a 12-month low of $63.81 and a 12-month high of $115.75. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 34.74 and a beta of 0.94.

Exponent (NASDAQ:EXPO - Get Free Report) last released its earnings results on Thursday, July 31st. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Exponent had a net margin of 18.35% and a return on equity of 24.19%. The firm had revenue of $132.87 million during the quarter, compared to analyst estimates of $130.82 million. During the same period last year, the business earned $0.57 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Exponent, Inc. will post 1.98 earnings per share for the current fiscal year.

Exponent Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, September 5th. Exponent's payout ratio is presently 60.00%.

About Exponent

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.